Costco CEO to Step Down

By

Ann Zimmerman

September 2, 2011

James Sinegal, chief executive of Costco Wholesale Corp., is stepping down at the end of the year from the company he co-founded in 1983 and helped build into the country's biggest member warehouse chain.

Mr. Sinegal, 75 years old, will be succeeded by Costco veteran Craig Jelinek, 59, who was widely expected to assume the top spot after the board promoted him to president and chief operating officer 18 months ago.